Loyola to receive $1,000,000 from the Goizueta Foundation

(New Orleans)—Loyola University New Orleans will receive $1,000,000 from The Goizueta Foundation. The grant is designated to establish and endow The Goizueta Foundation Scholars Fund to provide need-based scholarship assistance annually for Hispanic/Latino students whose families reside in the United States. The money is payable in December 2002.

The grant will be available to current and prospective students. Current students need apply by January 15, with supporting letters and/or nominations. For new students, the timeline would follow Loyola’s general scholarship timeline with priority given to students who apply and are accepted by December 1. A high school grade point average of 3.0 would be required for consideration with a competitive SAT/ACT score. A campus committee comprised of select faculty and staff will meet to select the final candidates and awards would be given for the following academic year before the close of the spring semester.

“To meet the needs of our growing Hispanic/Latino student body, the university must increase student endowment funds that target this student population. Through this endowed scholarship, the university’s financial aid efforts will be more closely connected to the institution’s goal of attracting and supporting Hispanic students,” emphasized Loyola President, the Rev. Bernard P. Knoth, S.J.

Hispanic students comprise 14 percent of this year’s freshman class, the highest percentage of Hispanic students at Loyola since 1996.

The U.S. Census data predict by the year 2015, more than 35 percent of all students on campuses will be members of minority groups, mostly Asian and Hispanic descent. The higher proportions of minority students means the cohort of students attending colleges in 2015 is likely to be poorer and, therefore, will need significantly more financial aid.

This university-wide, endowed scholarship will build on existing effort to support Hispanics students. For example, the J. Edgar Monroe Foundation provides scholarship support to Costa Rican students who wish to study music at Loyola, and the College of Business Administration partners with the Gulf Coast International Hispanic Chamber of Commerce to foster internship for students.